Ready to revenue
That starts with Currance.
There has been much debate about the post-COVID workplace models, but it has become quite apparent that it’s not a ‘one size fits all’ for every organization. A substantial amount of companies have implemented hybrid models that allow for flexibility for employees, while being structured to meet organization goals and objectives. For example, for the more than 1,300 employees who work at J.M. Smucker in Orrville, Ohio, they’re on a hybrid model that requires them to come into the office for 22 “core weeks” a year. This arrangement gives employees the ability to live anywhere in the U.S., but they are responsible for the cost for their flights or drive back to the office during core weeks.
We applaud this outside-of-the-box thinking when it comes to making office policies, especially in the face of employee push back against the Return to Office (RTO) movement, for several reasons. Since the RTO movement hasn’t gain much support from employees previously, we’d like to discuss a model that works best for employees and employers of a healthcare revenue cycle department: a distributed team.
This is where your staff works in a combination of remote, hybrid or onsite models. One of our clients, a major health system, decided that each revenue cycle team could work in different locations based on a revenue cycle team member’s role or function. Several of our clients have seen great success with their distributed teams. Here’s a look at what that means and how it’s executed properly:
Why distributed teams are the model of today and tomorrow
A Future Forum study of knowledge workers across six countries found that the majority value flexibility. The statistics:
Over the years, it has become clear that a hybrid model benefits both the employer and employee. The benefits for the employer include:
Hospitals across the U.S. continue to face increased cost margin pressures. By thinking differently about the hiring process, you can increase operational efficiency and reduce costs. For example, if your hospital is based in Los Angeles or New York, state laws require salary ranges posted, which often reflect of the higher cost of living. But if you’re able to pivot to remote workers, you can recruit from areas of the country where more cost-effective talent is ready to seize opportunity.
Since our organizational model at Currance model is based on a distributed team environment, we’ve helped our clients prioritize in-house roles and kept non-essential workers remote. This means that revenue cycle leaders don’t have to rely on their HR department to find employees, given a wide talent pool to choose from. Our model offers clients a broad talent pool of seasoned, high-performing teams. They know how to work on small, one-time projects or do long-term, comprehensive strategic revenue cycle engagements. We also know that our client’s needs often change quickly, so this model allows our clients the opportunity to be flexible with staff. Scaling up or dialing down distributed teams is seamless, but it requires the right partner with the technology, support and intelligence for success.
How to achieve exceptional together
According to Gallup, only two in ten employees feel connected to their company’s culture. Having an inspiring company culture is important because it motivates your employees to do their best work every day — and sets you apart as an employer or regional health system of choice. From being purposeful to planning in-person events to fostering an environment of inclusivity, there are several things you can do to create a strong office culture, even if your company takes a hybrid approach to work.
However, we know that articulating what you want your company’s culture to look like might seem overwhelming. Not sure where to begin? Create a culture map that works best for your organization. Then, if you need some inspiration, here’s a look at some bullet points from how one of our clients implemented key culture points they wanted employees to adopt:
It’s great to define your values, but it’s not enough to post them on your website or share them on your intranet. You have to create a plan for action and accountability. Share examples of how you want employees to live these values authentically. Clearly articulate the “why” behind each value and how each one encourages employees to take individual responsibility for their presence and actions.
How to engage distributed teams in your values and culture
“Finance leaders reported that mid-level revenue cycle positions, which require six to ten years of experience, cost an average of $3,581 for recruitment and take about 153 days to fill,” says RevCycleIntelligence. Retaining and advocating for employees is another way for you to increase workforce efficiency and reduce hiring costs.
Here are some easy things you can implement to make sure you’re an employer of choice:
How to impact the heart, head and wallet
It’s not enough to say that you’re going to change the culture or create a new one. As a leader, you have to come up with tangible ways to show how these systemwide changes can positively affect employees. To get you started, leverage this infographic to focus on how to connect to each employee’s head, heart and wallet.
Ready to revenue cycle differently? That starts with Currance.
Contact email@example.com to discuss your revenue cycle.